Can I retire at age 62 with 2,200,000?

Use the below retirement simulation to view the chances of a successful retirement.
Confused? Try the simple retirement calculator
About Your Retirement ?
Current Age
Retirement Age
Current Savings $
Annual Deposits $
Annual Withdrawals $
Stock market crash:
Portfolio ?
% in Stocks:
% in Bonds:
% in Cash:
Modify Stock Returns:
0%
Modify Bond Returns:
0%
Modify Cash Returns:
0%
Modify Inflation:
0%
How much money do I need to retire?

This retirement calculator runs simulations based on past data from the S&P 500, 10 Year Treasury Bond, 3 month T-Bill, and US inflation. For each year of each simulation, a random return and inflation amount is chosen.

How to use: Enter your current age and the age when you retire. Then enter your current savings, the amount that you can save annually before you retire, and the amount that you plan to withdraw after retirement. Your annual deposits and withdrawals take inflation into account. For example, if you need $50,000 to live on in retirement using today's dollars, we will automatically take into account the cost of living for your retirement years. The same is true for your annual deposits. Next, decide if you'd like to simulate a stock market crash.

In the portfolio section, choose the makeup of your portfolio with stocks, bonds, and cash. Cash assumes that your money is stored in a savings account. You can then alter the future returns and inflation. For example, if the market has historically returned about 10%, but you think the future will be worse, modify the stock returns by -3%, and the future returns will average out to 7%. Investment fees can also lower stock market returns. Many index funds and ETFs offer extremely low fees and expenses.

Many people receive income in retirement, such as social security, pension plans, part time jobs, annuities, and other benefits. This would allow you to take out smaller distributions every year. Please note that taxes must also be considered, but are not used in this simulation. A 401k, Roth IRA, and Traditional IRA are taxed differently than a standard investment account, as are dividends.

Note: This assumes that the future is at least somewhat like the past. In reality, anything could happen. The Soviet Union collapsed, Japan's Nikkei Index is still well below its 1989 peak. Numerous other markets have changed drastically and never recovered. However, this online tool is helpful in retirement planning and estimating how much you might need for retirement, especially those hoping to retire early. We recommend receiving advice from a financial planner.

Want to retire with $2,200,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18%
1 years$181,674$180,056$178,477$176,936$175,431$169,747
2 years$89,938$88,263$86,639$85,065$83,539$77,866
3 years$59,363$57,681$56,061$54,502$53,000$47,516
4 years$44,078$42,401$40,798$39,266$37,800$32,547
5 years$34,910$33,243$31,661$30,160$28,735$23,727
6 years$28,800$27,146$25,587$24,119$22,737$17,978
7 years$24,437$22,797$21,263$19,830$18,491$13,981
8 years$21,167$19,541$18,033$16,635$15,340$11,075
9 years$18,624$17,014$15,531$14,169$12,919$8,894
10 years$16,592$14,997$13,541$12,214$11,007$7,217
11 years$14,930$13,351$11,921$10,630$9,467$5,903
12 years$13,546$11,983$10,580$9,324$8,204$4,859
13 years$12,375$10,829$9,452$8,231$7,154$4,021
14 years$11,373$9,843$8,493$7,307$6,271$3,340
15 years$10,505$8,992$7,668$6,516$5,521$2,784
16 years$9,747$8,250$6,952$5,835$4,880$2,327
17 years$9,078$7,598$6,326$5,243$4,327$1,950
18 years$8,485$7,021$5,775$4,725$3,847$1,636
19 years$7,954$6,507$5,287$4,269$3,429$1,375
20 years$7,477$6,047$4,852$3,866$3,063$1,158
21 years$7,046$5,632$4,463$3,509$2,741$975
22 years$6,655$5,257$4,113$3,191$2,457$823
23 years$6,298$4,917$3,798$2,906$2,205$694
24 years$5,972$4,607$3,512$2,650$1,982$586
25 years$5,672$4,323$3,253$2,420$1,784$495
26 years$5,396$4,063$3,017$2,213$1,607$419
27 years$5,140$3,824$2,802$2,026$1,449$354
28 years$4,903$3,603$2,604$1,856$1,307$300
29 years$4,683$3,399$2,424$1,702$1,180$254
30 years$4,478$3,210$2,258$1,562$1,066$215
31 years$4,287$3,035$2,105$1,434$964$182
32 years$4,108$2,872$1,964$1,318$872$154
33 years$3,940$2,719$1,833$1,212$789$130
34 years$3,782$2,577$1,713$1,115$715$110
35 years$3,634$2,445$1,602$1,027$647$93
36 years$3,494$2,320$1,498$946$586$79
37 years$3,362$2,204$1,402$871$532$67
38 years$3,238$2,094$1,313$803$482$57
39 years$3,120$1,992$1,230$740$437$48
40 years$3,008$1,895$1,153$683$396$41
41 years$2,902$1,804$1,081$630$360$35
42 years$2,801$1,718$1,014$582$326$29
43 years$2,705$1,637$952$537$296$25
44 years$2,614$1,560$893$496$269$21
45 years$2,527$1,488$839$458$244$18
46 years$2,444$1,419$788$423$222$15
47 years$2,365$1,354$740$391$201$13
48 years$2,289$1,293$696$361$183$11
49 years$2,217$1,235$654$334$166$9
50 years$2,148$1,179$615$308$151$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $2,200,000, adding $6,298 every year, while hoping to spend $22,176 every year in retirement. These numbers increase with inflation.
Reality usually performs much different than the expected returns. This uses historical averages, but anything can happen. In general, riskier investments have greater returns on average, but more volatility in the short term.
Age Total: 100% Stocks Total: 100% Bonds Total: 100% Cash Total: 54/29/17 Blend
61$2,200,000$2,200,000$2,200,000$2,200,000
62$2,430,896$2,314,296$2,280,196$2,550,742
63$2,655,253$2,404,102$2,332,988$2,723,103
64$2,901,750$2,497,564$2,386,805$2,907,732
65$3,172,624$2,594,840$2,441,658$3,108,211
66$3,470,336$2,696,091$2,497,557$3,326,055
67$3,797,598$2,801,488$2,554,514$3,562,934
68$4,157,400$2,911,208$2,612,537$3,820,680
69$4,553,034$3,025,437$2,671,636$4,101,312
70$4,988,128$3,144,367$2,731,820$4,407,048
71$5,466,677$3,268,202$2,793,097$4,740,330
72$5,993,086$3,397,151$2,855,473$5,103,844
73$6,572,206$3,531,437$2,918,957$5,500,546
74$7,209,383$3,671,289$2,983,554$5,933,687
75$7,910,507$3,816,949$3,049,269$6,406,847
76$8,682,066$3,968,667$3,116,108$6,923,965
77$9,531,213$4,126,708$3,184,073$7,489,377
78$10,465,825$4,291,345$3,253,168$8,107,856
79$11,494,584$4,462,866$3,323,394$8,784,655
80$12,627,055$4,641,570$3,394,752$9,525,559
81$13,873,780$4,827,772$3,467,241$10,336,934
82$15,246,371$5,021,799$3,540,859$11,225,793
83$16,757,627$5,223,993$3,615,604$12,199,853
84$18,421,649$5,434,713$3,691,471$13,267,615
85$20,253,976$5,654,332$3,768,454$14,438,439
86$22,271,730$5,883,242$3,846,545$15,722,631
87$24,493,777$6,121,852$3,925,735$17,131,542
88$26,940,909$6,370,590$4,006,014$18,677,672
89$29,636,035$6,629,902$4,087,368$20,374,787
90$32,604,399$6,900,255$4,169,783$22,238,050
91$35,873,818$7,182,138$4,253,242$24,284,160
92$39,474,947$7,476,063$4,337,726$26,531,511
93$43,441,565$7,782,563$4,423,212$29,000,362
94$47,810,893$8,102,197$4,509,678$31,713,031
95$52,623,948$8,435,549$4,597,097$34,694,097
96$57,925,930$8,783,230$4,685,438$37,970,640
97$63,766,646$9,145,879$4,774,672$41,572,488
98$70,200,981$9,524,164$4,864,760$45,532,499
99$77,289,418$9,918,785$4,955,667$49,886,870
100$85,098,605$10,330,472$5,047,348$54,675,479